Balancer Pool Specifications

Provide liquidity in WOO and ETH to earn BAL and WOO tokens with additional bonuses for early supporters

Highlights:

The Wootrade team will launch and provide liquidity to a 50% ETH / 50% WOO Balancer pool on Dec 14, 2020, 12 PM GMT. This is being done to support our WOO token holders and liquidity providers with WOO staking rewards, BAL token rewards, and trading fees from being liquidity providers.

This pool will have a monthly reward pool of 50,000 WOO taken from our ecosystem fund and will be distributed pro rata on a weekly basis to stakers in the Balancer pool in addition to Balancer (BAL) token rewards.

An additional bonus of extra WOO tokens will be given for early participants in the first two months:

The Balancer pool will formally open on Dec 14, 2020 12:00 PM GMT and stakers will have 48 hrs until the recording of the first snapshot on Dec 16, 2020 12:00 PM GMT. WOO reward tokens will then be distributed the following week on Wednesday, Dec 23, 2020. Subsequent snapshots after the first scheduled snapshot will be randomized throughout the week and rewards will be distributed directly to staker accounts every Wednesday thereafter.

The calculation for rewards will be ((Snapshot 1 percent of liquidity staked + Snapshot 2 percent of liquidity staked + Snapshot 3 percent of liquidity staked)/3)* WOO Reward Pool.

Seed Liquidity: $20,000 worth of ETH and $20,000 worth of WOO tokens — to be reduced to a minimal amount once sufficient liquidity is staked.

Pool Type: 50% ETH / 50% WOO

Fee: 0.2%

Pool Rewards: 50,000 WOO per month

Early Bonus:

Snapshot: 2 random snapshots throughout the week and 1 random final snapshot before distribution of rewards. Snapshot dates and times will be recorded on a Google spreadsheet and will be publicly available for viewing.

Note: Impermanent loss may occur if prices of the tokens diverge. This is less of an issue for longer-term stakers as fees from trades may make up for impermanent loss.

Please do your research!

Here is an article and a video explaining impermanent loss:

Balancer is an automatic market maker (AMM) with configurable pool weights and up to 8 tokens per pool. Stakers in the pool earn transaction fees from trades being routed to the pool.

Wootrade is incentivizing the WOO/ETH 50/50 pool with a monthly reward pool of 50,000 WOO tokens, including bonuses for early participants.

3. Select your wallet on the popup that appears on the middle of your screen.

3. If this is your first time using Balancer, you need to set up a proxy contract to interact with Balancer. If so, click the blue “Setup Proxy” button and send the transaction with your wallet to set up the proxy.

4. You can then select “Multi asset” if you have both WOO and ETH in your wallet. Note: Assets will be deposited in a 50/50 ratio.

5. Alternatively, you can select “Single asset” if you only have or want to deposit either ETH or WOO tokens. Note: Single asset means that any tokens you provide will be used to purchase the other token to provide a 50/50 ratio. Ex: Depositing 1 ETH will mean 0.5 ETH will be used to buy WOO at current ETH/WOO rates.

6. Enter the amounts of WOO and/or ETH you want to deposit on the “Deposit Amount” box and check the red tickbox.

7. Once you are happy with the amounts, press the blue “Add Liquidity” button down below and send the transaction with your wallet.

8. Once the transaction is mined or completed, Balancer will notify you on the bottom part of your screen with a message “You’ve successfully added liquidity”.

9. Just sit back and relax — WOO rewards will be sent to your account every Thursday, Balancer rewards weekly, and you earn trading fees from transactions sent thru the pool.

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